Next Plc expects sales growth of 3.2% for current year

06 Jan '19

1 min read

Courtesy: Next Plc

Next Plc, a British multinational clothing retailer, expects full price sales growth of +3.2 per cent and full year profit of £723 million for the current year. Profit of the company may increase or decrease by up to £5 million depending on sales and costs in January. For the year 2020, the company expects full price sales growth to be +1.7 per cent.

There is a high degree of uncertainty in the Next Plc’s sales forecast made this year around the performance of the UK economy after Brexit.

The company has lowered the central guidance for full year profit for the current year from £727 million to £723 million, a difference of 0.6 per cent, said a press release from Next Plc. The £4 million difference is a result of two factors. Firstly, higher sales on seasonal products, such as personalised gifts and beauty products reduced the margin by £1.5 million. The remaining £2.5 million reduction came as a result of the increased operational costs associated with the higher online sales. (PC)

Fibre2Fashion News Desk – India

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